Kalshi loses appeal, setting up potential Supreme Court case
60-second summary
The 6th US Circuit Court of Appeals rules against prediction‑market platform Kalshi, upholding Ohio and Tennessee’s authority to regulate sports‑event contracts under state law. The decision blocks Kalshi’s bid to operate nationwide, forcing it to redesign offerings or seek legislative change. The setback highlights regulatory uncertainty for U.S. betting exchanges and could deter investor confidence.
The 6th US Circuit Court of Appeals ruled against prediction market Kalshi, siding with Ohio and Tennessee on regulating sports-event contracts under state laws.